AS it faces accusations of being "out to get" the ABC, the Federal Government has announced an efficiency study into the broadcaster, as well as SBS.

The review will look into how taxpayer's dollars are spent across areas including television, radio and online content, according to released terms of reference.

It will provide options about how the broadcaster's services can be delivered more efficiently and transparently, but will not look into the quality of programs.

Making the announcement, Communications Minister Malcolm Turnbull said he wanted the ABC to be stronger, healthier and more resilient.

"It is important that the ABC gives the viewers of Australia, the taxpayers of Australia if you like, the maximum bang for the taxpayer's buck," he told ABC Radio.

But he refused to rule out wielding the axe.

"We've always said if there are cuts across the board … because of the severe budgetary situation we're in then you could not expect any agency of the Government, including the national broadcasters, to be exempt from that."

"It's very disappointing the minute the new Government gets scrutiny for its broken promises it starts looking for someone to blame and proposes attacking the ABC with a very substantial cut to its funding," Ms Plibersek told reporters in Canberra.

"I think that soft diplomacy, projecting Australian values into the region has always been important for us and I think the ABC has done a very good job, along with other news organisations."

She said the network provides a valuable service, sharing Australian news and programming.

Christine Milne is urging voters to "take it up to Tony Abbott", accusing the Prime Minister of being out to get the ABC.

The Greens Leader told reporters in Melbourne the overseas service does an "outstanding job".

"It would be a very bad mistake if Tony Abbott was now to assault not only the ABC … but also abandon that service," Senator Milne said.

"It's pretty clear that Tony Abbott is now out after the ABC and I call on all Australians who support the ABC to take it right up to Tony Abbott in return."

The hoarding at Rushcutters Bay, which shows the children's characters looking distressed next to the message "Protect Our ABC'', is part of a crowd-funded GetUp! campaign urging the federal government not to slash the ABC's annual $1 billion funding.

Cabinet has discussed ending the public broadcaster's contract to provide Australian news and entertainment to the region in the May budget, The Australian reports.

The network provides television services across the Asia-Pacific region, but also is used as a vehicle for "soft diplomacy'' - building goodwill overseas through news and entertainment.

But the newspaper reported that cabinet ministers believe the ABC's coverage of Australia in the region is overly negative and fails to promote the nation as originally intended in the Australia Network's charter.

In 2011, the Labor government permanently awarded the ABC the contract. Sky News had also bid for the contract.

In other developments, a prominent adviser to the Liberal Party has made a dark warning about the future of the ABC.

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